Satoshi Club

Welcome to another episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from TFS Token, a new digital currency that will serve as a standard payment method at Fairspin online casino. The AMA took place on August 30 and our guests was Alex A., Chief Business Officer at Trueplay.

The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

---

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Gold Rocket | Satoshi Club: Hello, dear Satoshi Club! We are pleased to announce AMA with TFS. Today our guest is @bakeralex.

Alex A: Hey hey, it’s nice to e-meet all of you!

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @bakeralex! How are you doing? We are really excited about upcoming AMA.

Alex A: Doing great! How are you? Can’t wait to start it!

Gold Rocket | Satoshi Club: let’s start with a little intro. How did you get to be involved in crypto & TFS? Tell us please about your position in TFS? What is the essence of TFS?

Alex A: sure! My name is Alex, I am a Chief Business Officer at Trueplay (https://trueplay.io/ )

Trueplay platform provides painless blockchain integration for, online businesses that value transparency.

Well, basically, we are building the bridge between your, business and crypto world. Thus, TFS token became our first client on its way to tokenization.

Gold Rocket | Satoshi Club: How long does it take to develop a project? What plans do you have for the future? And what can we expect from TFS?

Alex A: TFS is a token of the first blockchain casino. And there is no other casino that has ever offered playing classic games and check all the stats in blockchain.

Andrés M. | Satoshi Club: Alex, what is the meaning of TFS?

Alex A: Well, pretty simple to understand – Token Fairspin (TFS)

Andrés M. | Satoshi Club: Oh amazing, what kind of games do you have on your platform? Roulette, blackjack?

Alex A: Fairspin team has a huuuge amount of games from top-notch game providers as well as blockchain games.

Gold Rocket | Satoshi Club: Btw. We would like to get to know your team better. who is at the core of the project?

Alex A: good question! Our leadership team consists of 5 people, such as CEO, CFO, CTO, CMO, and CBO. All of us are hand-picked experts with over 5 years of experience and have a solid background in both trading & blockchain industry as well as a proven track record from previous projects. and all of us mined at least 1 bitcoin back to 2013-2014.

Q1 from Telegram User @Asela1112

By the combination of FairSpin & TruePlay platforms, you intend to tokenize FairSpin loyalty program & introduce a $TFS as your own native Currency. What kind of collaboration does FairSpin have with TruePlay? Are both of FairSpin & Trueplay Co-heirs of $TFS token? As you mentioned FairSpin owns a 300,000 registered users and a pool of 13,000 of active players monthly. So what is the sudden cause of entering to the Blockchain field as the next step of FairSpin? Through your entry to the Blockchain network, what kind of utmost opportunities will FairSpin users possess in future? Can you point out some directions that you hope to lead FairSpin & $TFS along with TruePlay platform in blockchain field?

Alex A: What kind of collaboration does FairSpin have with TruePlay?  As I’ve mentioned, Trueplay is a painless tokenizer for any kind of online business. In TFS collaboration, TruePlay plays a role of a technical partner and does all the technical and blockchain-related work.

Are both of FairSpin & Trueplay Co-heirs of $TFS token? TFS token is issued using Trueplay platform and it belongs to Fairspin. Trueplay provides a tech solution to integrate this token into existing Fairspin gaming experience.

As you mentioned FairSpin owns a 300,000 registered users and a pool of 13,000 of active players monthly. So what is the sudden cause of entering to the Blockchain field as the next step of FairSpin?

Through your entry to the Blockchain network, what kind of utmost opportunities will FairSpin users possess in future?

TFS is a digital asset (https://t.me/tfstoken_group) that will be used as a payment method within the world’s first blockchain casino – Fairspin. To this day there’s no other casino on the market that offers the same level of transparency, security, and accessibility to user playtime statistics as Fairspin. All of this is made possible solely through Trueplay and its technology that makes this process swift and seamless.

The introduction of the TFS token opens new boundaries in front of us to reward and motivate players to spend more time playing at Fairspin through “Play to Earn” and “Hold to Earn” programs. Additionally, TFS token isn’t limited to casino borders and can be traded on external crypto exchanges with ease.

Can you point out some directions that you hope to lead FairSpin & $TFS along with TruePlay platform in blockchain field?

That’s a great question! In fact, this is exactly what “Hold to Earn” program aims at. Through this program, Fairspin will share a part of its monthly revenue with users that prefer to stake TFS tokens for profit. Besides that, every user can be assured that he will be paid every penny as every transaction, payment or bets will be published in blockchain.

@GoldRocket27 great questions, btw.

Andrés M. | Satoshi Club: Thanks for your detailed answers, btw could you share us your tokenomics? How is the total amount of tokens distribution?

Alex A: Yup, you can find the detailed tokenomics explanation here

https://tfstoken.medium.com/?p=a3006c5be88c

Q2 from Telegram User @victorogb

A breakdown of the token allocation for TFS operational functions shows that; Staking Programme Rewards, Pools set up and Payment Operations, accounts for 25%, 16.67%, and 8.33% respectively. However, these are broad overviews and don’t clearly state in details how each allocation will be further utilised. Can you kindly elaborate on how these token allocations would cover specific functions of development, promotions & expansions as well as community and security operations? Also, with these tokens fully unlocked and amounting to half of total supply, how would your account for the remaining 50%, are they burnt or bought back?

Alex A: As a Trueplay member, I’m quite limited in what I am allowed to share before TFS token sale starts.

You can expect a few AMA sessions and new articles with fresh details revealing the detailed tokenomics and rules for burning/buy back process.

Gold Rocket | Satoshi Club: when possible please do not forget to share with Satoshi Clubbers.

Alex A: Will do! TFS team is working sooo hard and already launched TFSbeta for its users.

Gold Rocket | Satoshi Club: Please tell us a bit about your roadmap. I think there are very interesting moments. how do you select beta testers?

Alex A: Okay, seems like I should give you at least one small insight here) Beta users were picked up randomly, but up to the end of the week Fairspin team will roll out TFSbeta to all the users! It hasn’t been announced yet.

Gold Rocket | Satoshi Club: this is our secret and another 91k participants.

Alex A: stay tuned with the updates and make sure you follow https://t.me/tfstoken_group

Q3 from Telegram User @KathDM

Fairspin is an international online platform with a user pool of over 300,000 users worldwide. Since Fairspin is an international platform … Are there some countries with restrictions to register on the platform? We know that in some pre-sale of tokens or even in some exchanges there are certain countries that are not supported by the platform. Is something similar happening on the Fairspin platform? Is it a requirement to do KYC in order to register on the platform?

Alex A: Good questions! As Fairspin gaming platforms holds Curacao e-gaming license, there is a list of restricted areas where Fairspin can’t operate:

Aruba, Australia, Belgium, Bonaire, Bulgaria, Colombia, Croatia, Curacao, Czech Republic, Democratic People’s Republic of Korea (DPRK), Denmark, Estonia, France, Georgia, Germany, Islamic Republic of Iran, Italy, Latvia, Lithuania, Mexico, Portugal, Romania, Singapore, Spain, St. Maarten, Sweden, Switzerland, the Netherlands, the United Kingdom, the United States of America and Ukraine. The same countries won’t be allowed to participate in TFS token sale, no KYC is required to register on the platform.

Gold Rocket | Satoshi Club: by the way, where are you from. My country is on this list.

Alex A: Trueplay company is registered in Belize, the tech and marketing teams are located in the almost best place to work and live – Dubai.

Andrés M. | Satoshi Club: Do you have different local communities on telegram?

Alex A: not at the moment, the whole team is focused on launching new features for our users

everybody can join TFS Eng. speaking community https://t.me/tfstoken_group

Q4 from Telegram User @Jonahapagu

TFS is said to be a deflationary token with a regular buyback and a limited total supply. So what are the other details of the deflationary component of TFS, at what rate will the buybacks be done, and will buyback be the only deflationary component in TFS. Apart from being deflationary, in what other ways will you ensure that there is stable circulation and demand for TFS to give it a healthy market price and performance.

Alex A: Well, first of all, Fairspin will share a part of its monthly revenue with users that prefer to hold TFS tokens for profit, up to 100% emission of Hold to Earn and Play to Earn will be allocated to support healthy market price.

Andrés M. | Satoshi Club: Is there any other benefit for long term holders?

Alex A: Long term holders will benefit from holding TFS since Fairspin will provide its holders with more XXX profit. Meanwhile, sharing its monthly revenue with users who hold.

Q5 from Telegram User @andrey_seleznov

Hi, TFS

Thanks to your great medium channel, I read that TFSBeta token & Tokenized cash back is now available for a limited number of players. Could you please tell us more details about this initiative? How did you select these limited players eligible for cashback? How do you make sure other players do not feel bad for not being selected and missing out on the cashback offer? And finally, can Satoshi Clubbers join this program now that we learned about the TFS platform or is it too late already? Thank you!

Alex A: Answered above already, 5k users were selected randomly to test TFSbeta experience, this week TFSbeta will be rolled out to all of Fairspin users. And finally, can Satoshi Clubbers join this program now that we learned about the TFS platform or is it too late already?

 Well, let’s do this! Join https://t.me/tfstoken_group  and ask admin to provide you with the access to TFSbeta and you’ll be shortlisted immediately.

folks, to get shortlisted for TFSbeta, make sure you’re subscribed to both Satoshi Club and TFS token TG channels. https://t.me/tfstoken_group

Q6 from Telegram User @Highpee

Am particularly interested in your special feature which you call “Hold to Earn”. You said by holding a fixed amount of your token, users will be able to earn part of your monthly revenue as profit. How much should I hold in order to earn and for how long should the amount of token be held? Are these token meant to be stake on your platform to qualify for profit commission or will you be able to monitor the amount of token held in individual wallet in order to determine the quantity of profit commission they are to receive? Also will the revenue sharing be provided in the forms of product discount or cashback or will it be the distributed as $TFS directly to user’s wallet?

Alex A: How much should I hold in order to earn and for how long should the amount of token be held?

There will be a list of “Hold to Earn” programs with several options (time and min TFS amount to hold). TFS will keep everybody posted and announce Hold to Earn programs soon.

Are these token meant to be stake on your platform to qualify for profit commission or will you be able to monitor the amount of token held in individual wallet in order to determine the quantity of profit commission they are to receive?

Those tokens are meant to be staked in “Hold and Earn” program, users will be getting profits (% from casino revenue) directly to their wallet balance.

Also will the revenue sharing be provided in the forms of product discount or cashback or will it be the distributed as $TFS directly to user’s wallet?

There will be a set of holding (staking) programs available for all the users. All the TFSbeta users are already eligible to take part in holding (staking) programs.  You see, while play-to-earn is a tokenized form of cashback, hold-to-earn is about sharing casino’s income with its players. No casinos have ever offer anything like that.

Andrés M. | Satoshi Club: I think our community is so excited as we are, so please tell us where and how to buy the token?

Alex A: You may purchase the TFS tokens at the upcoming token sale, join the Wait list at http://tfstoken.com  and stay tuned!

---

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 120 seconds; a lot of questions were posted by Satoshi Club community. Our guest chose some of them.

Q1 from Telegram user @Nensam

As we wait and anticipate the launch of this token, how do you keep the entire community engaged in the values and offers of this project? Do you have ambassadors’/ referral programs, contests, quiz, meme competition going on or you have plans for them?

Alex A: There are 2 rounds of activities. First, Fairspin as a casino offers several bonus programs, including instant cashback in its TFS tokens.

Second, TFS launches bounty programs and giveaways. You just have to be a member of the TFS group and follow the news (especially pinned posts)

Q2 from Telegram user @lunaa_miracle

Is it possible for token holders to participate in the project’s governance? What kind of project-related decisions may people vote on?

Alex A: as the TFS token (https://t.me/tfstoken_group) has been designed specifically for Fairspin’s loyal userbase. Fairspin team will continue to roll out new features post token launch to a limited group of users and if a certain feature is accepted by them Fairspin will roll it out to the wider public. B

by the way, TFSbeta and “Play to Earn” are the results of such a process

Q3 from Telegram user @nitrogenpower

I want to invest right now before it is too late so can you please show me where can I buy your tokens?

Alex A: You can join the wait list at http://tfstoken.com/ , if you are a representative of a big investment fund and want to participate in private sale – feel free to contact us directly.

promotions@tfstoken.com

Q4 from Telegram user @mobilejii

What is the TFStoken strength and achievements till now? Do you support community feedback and suggestions?

Alex A: So far, TFS is the first token of a blockchain casino that is to share its income with players through a Hold 2 Earn program. Players will have the same gaming experience but at the same time will be able to earn more tokens within the Fairspin platforms. After the token sale, TFS token will be listed on DEX.

Now, TFSbeta is available in beta for a limited number of users – the Fairspin team did that to test it out, gather the feedback and launch even a better product. So yes, both Trueplay and Fairspin teams listen to their communities.

Q5 from Telegram user @ronaldo_super

What kind of blockchain games do you have and how do you provide high speed for gamers?

Alex A: Last one, good one, now the blockchain is integrated into casino logic, so every bet/win/withdrawal is published to the blockchain so users can make sure no shady schemes on the background happen. As a deeper dive, (catch the insight) Fairspin will get blockchain-based games powered by Trueplay team!

Q6 from Telegram user @highpee

Can you provide an insight into the COLLABORATIVE AGREEMENT between Trueplay and Fairplay Spin? Which team will be directly controlling the project as it stands? For how long are the two founding projects expected to work together? How will you be able to ensure smooth business running as well as prevent conflict of interest?

Alex A: Can you provide an insight into the COLLABORATIVE AGREEMENT between Trueplay and Fairplay Spin? Which team will be directly controlling the project as it stands? For how long are the two founding projects expected to work together? How will you be able to ensure smooth business running as well as prevent conflict of interest?

Trueplay team provides technical support for tokenizing Fairspin platform. The Fairspin team is the direct owner of TFS token. Trueplay team plans to support Fairpsin team as long as TFS token exists.

There’s not room for conflict of interest since Trueplay is just a painless tokenizer for Fairspin

Q7 from Telegram user @DK177

I am a Fairspin player who used to make deposits with TRON. What makes me to choose $TFS when it becomes available as a payment option? Do you offer special discounts or privileges if we choose your token? Thank you.

Alex A: oh, great to see Fairspin players here!

First of all, players will be able to make deposits in different fiat a crypto currency. And yes, TFS token is another token you can use for deposits.

But TFS is the token you get for playing games at Fairspin (as a cashback for every bet) and TFS is the only token for the ‘Hold to earn’ program.

‘Hold to earn’ program means you can choose some number of tokens and hold it for a fixed period – and get more tokens in return for holding. This amount will depend on the casino’s income, on the number of participants in the program, and on the holding period.

Q8 from Telegram user @nadee5

There are so many NFT type games and NFTs are really popular aspect now. Do you have any idea to introduce NFTs?

Alex A: yeah, that’s been a long long story since 2018:)

The story began in 2018 when Trueplay has started development of the tools that made business tokenization possible. We saw a great deal of potential in this and viewed blockchain as a solution to our need for transparency before both players & regulators.

Trueplay’s blockchain solution proves that any business can be tokenized and become safe, secure, and transparent at the same time. This will inevitably help us attract a new audience worldwide eventually as overall interest in blockchain gets momentum.

Q9 from Telegram user @KhaleesiTheCryptoLady

What are the benefits in joining the waiting list? What opportunities it brings to the users in the future?

Alex A: TFS token sale will be launched in a few rounds. The earlier you get in; the better price you get to buy tokens.

Later, the token is expected to grow in its price as it will be listed on DEXs and the circulation will be supported by Fairspin players.

Q10 from Telegram user @Gemshunter22

Do you have any rewards for beta tester who reports bugs? any bug bounty programme available?

Alex A: Wow, that’s a nice idea! we can launch one for sure, why not.

---

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about TFS. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 300$ were distributed between the winners.

For more information and future AMAs, join our Social Media channels:

• English Telegram group: https://t.me/Satoshi_club
• Russian Telegram group: https://t.me/satoshi_club_ru
• Spanish Telegram group: https://t.me/satoshi_club_spanish
• Telegram Channel: https://t.me/satoshi_club_channel
• Website: https://esatoshi.club/
• Twitter: https://twitter.com/esatoshiclub 

Our Partners:

• TFS Token – Official group: https://t.me/tfstoken_group
• Website: www.tfstoken.com  
• Medium: medium.com/@tfstoken

We are pleased to announce our next AMA on September 6th 2021 at 03:00 PM UTC Time: Satoshi Club x Creator

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Creator Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Creator Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Creator

For more details:
Creator Website – creatorchain.network
Creator Telegram – @creatorplatformglobal
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on September 5th 2021 at 05:00 PM UTC Time: Satoshi Club x Proto Gold Fuel (Ck-pgd)

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Proto Gold Fuel (Ck-pgd) Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Proto Gold Fuel (Ck-pgd) Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Proto Gold Fuel (Ck-pgd)

For more details:
Proto Gold Fuel (Ck-pgd) Website – proto.gold
Proto Gold Fuel (Ck-pgd) Telegram – @Proto_Gold
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on September 3rd 2021 at 05:00 PM UTC Time: Satoshi Club x Beyond

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Beyond Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Beyond Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Beyond

For more details:
Beyond Website – beyondfinance.io
Beyond Telegram – @beyondfinanceglobal
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

We are pleased to announce our next AMA on September 2nd 2021 at 03:00 PM UTC Time: Satoshi Club x Weapon Master

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Weapon Master Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Weapon Master Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Weapon Master

For more details:
Weapon Master Website – weapon-master.org
Weapon Master Telegram – @WeaponmasterOfficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Matrix and our guests were @josephliu03 – representative of Matrix. The AMA took place on 31st of August.

The total reward pool was 500$ and has been split into 3 parts.

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Website

Gold Rocket | Satoshi Club:
Greetings dear Satoshi Club❤️

Paul Mont | Satoshi Club:
Hello Satoshi Clubbers! Today we are excited to announce our AMA session with MatrixSwap! 😄😀

Paul Mont | Satoshi Club:
Today’s guest is @josephliu03! Welcome to Satoshi Club!🔥

Gold Rocket | Satoshi Club:
Matrix swap will be presented to us by wonderful guest

Hello and welcome to Satoshi Club, @josephliu03!

Joseph | Matrixswap I WON’T DM YOU:
Hey guys.

Gold Rocket | Satoshi Club:
Sorry for the technical delay😊

Joseph | Matrixswap I WON’T DM YOU:
Great to be here.

Thanks for having me.

Excited to share Matrixswap with you all.

Gold Rocket | Satoshi Club:
We are very excited about the upcoming AMA

Paul Mont | Satoshi Club:
That’s right! 🔥

Gold Rocket | Satoshi Club:
Please tell us a little about yourself. How did you get into crypto. When came to the matrix😁

Joseph | Matrixswap I WON’T DM YOU:
Sure!

I’m originally from Taiwan, currently living in Germany. I’ve been in crypto since 2016 mainly as an investor and swing trader.

I’ve helped multiple early stage startups in crypto to raise funds and built a strong network in crypto since 2017.

Our team is based in Asia and we have seasoned developers that worked on Defi, oracle and NFT projects.

Matrixswap started as a dream for the team.

Wanting to trade altcoins with leverage.

Gold Rocket | Satoshi Club:
You are an early crypto adopter😁

Joseph | Matrixswap I WON’T DM YOU:
And we decided to build and solve our own problems

Gold Rocket | Satoshi Club:
What is the essence of Matrix swap?

What do you mean by this concept?

Joseph | Matrixswap I WON’T DM YOU:
Matrixswap is bringing leveraged trading, multi-token swaps and proper risk management tools to the DeFi space.

Traditional AMMs like Uniswap don’t offer leveraged trading and are limited to single token transactions.

At Matrixswap, traders can trade any assets with up to 25x leverage and will be able to swap multiple tokens at once via our DEX aggregator.

Gold Rocket | Satoshi Club:
How long does it take to develop a project? What plans do you have for the future? And what can we expect from Matrix swap?

Joseph | Matrixswap I WON’T DM YOU:
In our case, we’ve been building since late 2020.

And we will continue to build and optimize the platform for years to come.

Gold Rocket | Satoshi Club:
The benefits are obvious. You just took into account the mistakes of the pioneers and the model is getting better. 😉

Joseph | Matrixswap I WON’T DM YOU:
Expect Matrixswap to be THE platform to trade on for DEXs.

Paul Mont | Satoshi Club:
By the way, I’ve seen that the whole team is public – you guys deserve a big praise for the transparency 😉

How many team members are working on MatrixSwap at the moment?

Gold Rocket | Satoshi Club:
We really hope and believe that it will be so.👍

Joseph | Matrixswap I WON’T DM YOU:
We have a total of 8 core team members.

And we are expanding!

Looking to bring on more people to join us in the future.

For now – we are focused on the tech.

Gold Rocket | Satoshi Club:
Amazing👍

Thanks for great introduction, we will have several questions selected for Part 1. Ready to start?

Joseph | Matrixswap I WON’T DM YOU:
Sure!

Let’s do it.

Q1 from Telegram User @Jmagsss

Matrixswap’s vAMM or the “Virtual Automated Market Maker” is a revolutionary way of letting traders explore vast variety of assets and trade with an infinite amount of liquidity. This concept also diminishes the risk of zero impermanent loss because liquidity provision is not required at all. This product of your is truly helpful for skillful traders with big volumes. May I know, Can traders use your vAMM to trade traditional assets just like stocks, commodities, forex and gold? Does your vAMM may support and cater other assets that aren’t related to cryptocurrencies?

Joseph | Matrixswap I WON’T DM YOU:
The platform is really designed to offer traders to trade anything.

But.

As we start our mission at matrixswap we hope to stay crypto native.

Meaning we will intend to stay with offering just crypto markets.

But if DAO decides to branch out later on to other markets.

The DAO has the power to do so.

We want that control to be held not by us, but by the protocol users.

Paul Mont | Satoshi Club:
That’s called empowering your community and stakeholders 😉 Great!

Gold Rocket | Satoshi Club:
It is really revolutionary what you do👏

Joseph | Matrixswap I WON’T DM YOU:
I’d say the vAMM design is pretty unique.

Gold Rocket | Satoshi Club:
Indeed.

Joseph | Matrixswap I WON’T DM YOU:
We give credit to the team that invented it.

Perpetual Protocol.

Gold Rocket | Satoshi Club:
By the way can you demonstrate something?

Joseph | Matrixswap I WON’T DM YOU:
Our system is similar.

Gold Rocket | Satoshi Club:
Visualization is perceived by users much better.

Joseph | Matrixswap I WON’T DM YOU:
Sure.

I’ll do my best.

What is it that you’d like me to demonstrate?

I have a quick video on our DEX aggregator.

If you guys want to take a quick peek at it.

Nuke button.

All user needs to do is to click on the nuke button and approve the transaction.

The app auto inputs all pre-approved tokens and set to max sell.

https://www.loom.com/share/f08144588906411fa6b55789b9e78c1c

This is our DEX router example ^

Both live on polygon mainnet.

These are our DEX router demo videos.

Separate from the vAMM.

Gold Rocket | Satoshi Club:
It works very simply! Thanks for the guides!

Paul Mont | Satoshi Club:
This nuke function… is definitely cool 🔥🔥🔥

I could get addicted to it very easily haha 😁

Joseph | Matrixswap I WON’T DM YOU:
Glad you guys like it!

Paul Mont | Satoshi Club:
Thank you very much for the clear answer and demonstration Joseph!

Ready to hop onto the next community question? 😉

Joseph | Matrixswap I WON’T DM YOU:
Sure!

Let’s go.

Q2 from Telegram User @Highpee

Matrix is currently being deployed on Polkadot, Cardano, and Polygon. Why did you start with these three blockchains rather than Ethereum and Binance Smart Chain which has an established population of ripe investors? Will this mean that your platform will be able to leverage cross-chain liquidity and enable swap interactions across any of the chains? Do you have your own bridge that can facilitate Inter-Chain transaction movement? And apart from these present chains that your protocol is presently able to adapt to, are there plans for more blockchain support?

Joseph | Matrixswap I WON’T DM YOU:
We initially set out to deploy on Cardano and polkadot because they are considered the 3rd generation blockchains.

Compared with ethereum, they had way better scalability.

Polygon development came later in the picture as we saw the massive growth in liquidity.

BSC and ETH both are too costly to run our protocol.

We will stay with more cost-efficient protocols.

If ETH figures out scaling through layer 1 later on, we’re happy to deploy.

That being said, we are always looking to adapt.

Gold Rocket | Satoshi Club:
Your solution really makes sense. And flexibility is more important than ever.

Joseph | Matrixswap I WON’T DM YOU:
If certain blockchains are: 1. fast 2. cost-effective 3. secure

We will deploy there.

Paul Mont | Satoshi Club:
Yes, unfortunately, Ethereum right is mostly a playground for whales… or least the minority that can afford 🙁

Joseph | Matrixswap I WON’T DM YOU:
Exactly.

We want our users to be able to make trades without spending too much on gas fees.

Even BSC when congested can cost up to $5 a trade.

So we want to make sure our users are protected from that.

Paul Mont | Satoshi Club:
I think this an exhaustive answer and @Highpee will probably be satisfied 😉

Brilliant, thank you! 😁

Gold Rocket | Satoshi Club:
Thanks for your answers! Ready to proceed to the next question?

Joseph | Matrixswap I WON’T DM YOU:
Yes, I’m ready!

Paul Mont | Satoshi Club:
The next question is about the mechanisms and funding rate behind MatrixSwap perpetual contracts 🙂

Q3 from Telegram User @Jonahapagu

It is stated in your whitepaper that in order to ensure perpetual contracts price inside The Matrix converges with index price in the real world, Matrixswap introduces an hourly funding rate.. so how does this funding rate mechanism work, how is this hourly funding rate maintained, how is the funding rate obtained, and what are the factors that affect this funding rate

Joseph | Matrixswap I WON’T DM YOU:
Sure thing!

Very similar to how FTX works.

Perpetual contracts never expire.

So technically you can hold on to them forever.

That said.

Perp market can easily diverge from the real market price.

So to fix that.

We have a funding payment on a per hour basis.

The funding payment is calculated by position size * (TWAP of perpetual price – TWAP of Index price)/24.

TWAP comes from oracle price feed.

Which we will use chainlink – on polygon.

Moonbeam.

And another one for Cardano.

Paul Mont | Satoshi Club:
What about the Index price, how is that calculated?

Joseph | Matrixswap I WON’T DM YOU:
This is obviously a more technical question.

Index price comes from oracle.

So if you go to chainlink price feed website.

That data is constantly being updated.

Paul Mont | Satoshi Club:
Great to read that you’ve picked the best oracles for the project 😉

Joseph | Matrixswap I WON’T DM YOU:
chainlink is by far the most battle-tested oracle out there

Gold Rocket | Satoshi Club:
Really very cool👏

Paul Mont | Satoshi Club:
Oracle failures have been quite a thing in the previous months, Chainlink is the hallmark of quality in the space ✨

Gold Rocket | Satoshi Club:
Thanks for your detailed answers 😃

Joseph | Matrixswap I WON’T DM YOU:
No problem!

Gold Rocket | Satoshi Club:
Ready to proceed?😉

Joseph | Matrixswap I WON’T DM YOU:
Yes 🙂

Next question please.

Q4 from Telegram User @andrey_seleznov

Hi MatrixSwap!
I’d like to ask about the DEX aggregator feature of MatrixSwap. We all love to be able to place a stop loss for our orders or purchase an asset at a better price via the limit order. Will limit orders work together with the interesting multi-token swap function that you advertise? Imagine not only swapping multiple tokens for a single token in a single transaction and at the prices you want! That’d be a killer feature for sure!
Could you please also share some details about the multi-token swap functionality? How do you make sure all transactions are finalized in one block, can there be slippage problems with some of the tokens and transaction may only partially complete? Or will you revert it all if some tokens failed to swap in a timely manner? And lastly does the multiswap save gas by combining multiple transactions into one?
Thank you!

Paul Mont | Satoshi Club:
Here is it 🙂

Joseph | Matrixswap I WON’T DM YOU:
Good questions!

We are currently developing a stoploss function that will fit quite well with multi-token swaps.

So it will act as a great risk management tool for DeFi users.

Limit orders are more limited to single tokens – but you can set many limit orders which essentially acheive the same result.

Polygon transactions are confirmed relatively quickly so we have been able to make smart contract calls while routing through multiple AMMs.

Similar with how 1inch and slingshot.finance work.

Regarding slippage – we give users the ablility to set them and if some tokens don’t go through the rest will still go through.

This is thanks to our “partial fill” function.

And over all – matrixswap not only saves you gas fees.

It also finds the best rates for you.

Gold Rocket | Satoshi Club:
Thanks for great answer 😊

Paul Mont | Satoshi Club:
I truly feel the scope of what you guys are building can really ease the life of so many users out there in cryptoland

Joseph | Matrixswap I WON’T DM YOU:
The videos I dropped earlier demonstrate some of the stuff I talked about just now.

Paul Mont | Satoshi Club:
Thank you ✨ Next question gets back to the governance theme 🙂

Q5 from Telegram User @yellowchamp

ZionDAO will be launched approximately 6 – 9 months after the Mainnet launch of Matrixswap and ZionDao will be your governance mechanism. At this stage, you xpect the ZionDAO community council will be able to propose, vote, and implement upgrades and changes to Matrixswap. So,can you describe more about your governance mechanism which is the ZionDao?Why do you choose ZionDao to be your governance mechanism? Do you have a separate ZionDAO community council to help for the decision-making of Matrixswap network? What are the other role of ZionDao in your platform? Does this governance mechanism is good for long-term? Thank you

Joseph | Matrixswap I WON’T DM YOU:
Our DAO design is relatively similar to blue-chip defi projects.

Think compound.

Or markerDAO.

Token holders will get the ability to propose, vote.

Overall I believe DAO is the best approach to fully demonstrate the power of decentralization.

It’s the best solution long term.

There’s no seperate community council.

Token holders are the DAO members.

It’s more straight forward this way.

Gold Rocket | Satoshi Club:
Simple and clear😁

Paul Mont | Satoshi Club:
Speaking of token holders, could you please share your tokenomics paper?

Joseph | Matrixswap I WON’T DM YOU:
Sure!

Paul Mont | Satoshi Club:
And by the way, has the project undergone any audits yet?

Joseph | Matrixswap I WON’T DM YOU:
https://docs.matrixswap.io/#matrix-tokenmetrics

We’re currently in the queue.

But we will definitely have the smart contract audited before our platform launch.

Tokenomics can be found here.

Gold Rocket | Satoshi Club:
Safety first👍

Joseph | Matrixswap I WON’T DM YOU:
We priced the token to be $0.1 per token.

For both private and public.

Fair price for everyone.

Paul Mont | Satoshi Club:
Thank you very much for sharing @josephliu03 🙏

Gold Rocket | Satoshi Club:
Sounds good🙌

Paul Mont | Satoshi Club:
Great, thank you very much. This is the last question for this very first part of the AMA, then we’re heading into the LIVE part of the session.

Q6 from Telegram User @cheriemike

Presently, Matrix has two giveaways taking place for those who are interested in winning $MATRIX token, One is the “Red Pill NFT Giveaway” where 32 NFTs are “charged” with $MATRIX token, And you have also launched your “Whitelist Lottery” which guarantees 20 whitelisting allocations to some selected participants. When will both giveaways last? Can you give us details on how we can also participate in the giveaway? For the whitelisting lottery is the KYC process required? Apart from these 2 giveaways, will you also airdrop the $MATRIX token to interested users? Thanks

Joseph | Matrixswap I WON’T DM YOU:
For the red pill NFTs, today is the LAST day.

You can still enter until midnight (EST).

https://twitter.com/matrixswap/status/1432275894119243785

Paul Mont | Satoshi Club:
That’s for you Satoshi Clubbers, an opportunity not miss out on! 💊✨🔥

Take the red pill guys 😉

Joseph | Matrixswap I WON’T DM YOU:
For whitelisting – check out our twitter page!

And yes, a KYC progress is required.

But only for the winners.

Paul Mont | Satoshi Club:
And that’s the Twitter page

https://twitter.com/matrixswap

So you guys have no excuses to be up and ready to explore how the MatrixSwap rabbit hole is 😁

Joseph | Matrixswap I WON’T DM YOU:
Apart from the NFT giveaways, we don’t have airdrop plans for now.

We might in the future 😉

Gold Rocket | Satoshi Club:
We will be glad if you share with us all the useful links before opening the chat

Joseph | Matrixswap I WON’T DM YOU:
Twitter – https://twitter.com/matrixswap
Website – https://matrixswap.io/
Telegram – @matrixswapofficial

Gold Rocket | Satoshi Club:
Thanks for sharing❤️

Part 2 — live questions from the Telegram community

Q1 from Telegram user @BJosefina61
As a DEX aggregator, what are the advantages over some traditional options in the sector such as paraswap or 1inch?

Joseph | Matrixswap I WON’T DM YOU:
Our unique multi-token swap will stand out from the rest of the market 🙂

Q2 from Telegram user @Ratash97
How does matrix swap solve the problem of Cardano not supporting smart contracts?

Joseph | Matrixswap I WON’T DM YOU:
Cardano has a smart contract coming on live later this month.

Q3 from Telegram user @Guandog
What are the collateralization margins with MatrixSwap, and do you have plans to add more assets as collateral in the future? is only USDC available for now?

Joseph | Matrixswap I WON’T DM YOU:
We have a maintenance margin ratio of 6.25%.

And yes.

We will introduce base assets like WBTC and WETH later on.

Q4 from Telegram user @csgonub
Matrixswap has 8 core team members right now do you think this is enough or do you plan to hire more people?

Joseph | Matrixswap I WON’T DM YOU:
We plan to hire more people and we are already in the process 🙂

Q5 from Telegram user @ethcypherpunk
Is matrixswap open to governance-type proposals? can you for example propose a new pair?

Joseph | Matrixswap I WON’T DM YOU:
Yes proposing for new market creation is one of the main governance functions.

Q6 from Telegram user @victorogb
Can you carefully explain the underlining functions of the Insurance Fund, how is this special vault funded and sustained?

Joseph | Matrixswap I WON’T DM YOU:
Sure!

The insurance fund acts as a backstop for the markets.

When there are losses that need to be paid to traders.

Insurance fund covers it.

The assets of insurance fund comes from trading fees.

50% of trading fees go to insurance funds.

The larger the open interest our platform has, the bigger the insurance fund needs to be.

Q7 from Telegram user @sweetdoge
Recently Solana is getting almost all the liquidity into Serum. Do you plan to add support to Solana blockchain for Matrix?

Joseph | Matrixswap I WON’T DM YOU:
We’re interested in deploying on Solana as well, but that will be much further down the line.

Q8 from Telegram user @Titanium432
What are the unique features of perpetual contact trading on matrix swap which make it different from others like Bitmex and Binance prep contracts?

Joseph | Matrixswap I WON’T DM YOU:
The main difference is that users get to retain custody of their own funds and trades are 100% on-chain and transparent.

Q9 from Telegram user @horrampure
Can I buy your tokens right now and also which wallet support your token?

Joseph | Matrixswap I WON’T DM YOU:
Our tokens cannot be bought right now, but we will have our IDO on card starter on the 10th of September.

Shortly after we will list our token on uniswap.

Metamask will be the wallet to use.

The registration starts on Sep 3rd.

IDO is on the 10th of Sep.

Q10 from Telegram user @Tahsinahmett
Can you explain why you set aside half of the trading fees for the MatrixSwap token, redemption, and burning?

Joseph | Matrixswap I WON’T DM YOU:
We set out to be a protocol to not take revenue from traders.

We want to empower our users and the value of matrixswap tokens.

So instead of making fees as revenue, we use that to buy back tokens.

Part 3 – Quiz Results

In the final part, we tested your knowledge in terms of Matrix. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru
Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners
Matrix Telegram community: https://t.me/matrixswapofficial
Twitter: https://twitter.com/matrixswap
Website: https://www.matrixswap.io

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Melos.Studio and our guests were @yalulin – representative of Melos.Studio. The AMA took place on 31st of August.

The total reward pool was 500$ and has been split into 3 parts.

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Website

Luis Merino 🇪🇸 | Satoshi Club:
Hello everyone and welcome to a new AMA session on Satoshi Club. Our guests today are from Melos.Studio.
@yalulin, welcome to Satoshi Club

Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with Melos.Studio! Welcome to Satoshi Club😀

@yalulin welcome to Satoshi Club 👏

Yalu Lin:
Hello!

Thank you for having me here.

Luis Merino 🇪🇸 | Satoshi Club:
It’s a pleasure 🙂

How are you today?

Yalu Lin:
I am good. thank you
wish you all well also.

Mary | Satoshi Club:
Sure! We are so excited to have you here today.

Yalu Lin:
🙂

Mary | Satoshi Club:
Let’s go 🚀

Yalu Lin:
Let’s go.

Mary | Satoshi Club:
And we will start with intro!

Yalu Lin:
Yes yes.

Mary | Satoshi Club:
Could you please introduce yourself and tell us more about Melos.Studio😃

Yalu Lin:
Yalu, I first crypto invest in 2017.

Luis Merino 🇪🇸 | Satoshi Club:
As always! We never change 😄😄

Yalu Lin:
Joined from the very beginning of Machi X in 2019. Machi X started as a music copyright marketplace ecosystem where fans, collectors, and patrons can buy and sell music copyrights. We listed 59 songs from Golden Melody Award-winning artists. These are equivalent to Grammy’s awards in Mandarin Chinese music industry. One of the songs was listed on Binance DEX. Machi X is also one of the recognized project in https://ethereum.org/en/community/

I was in charge of the operations dept and handling song IP purchasing, legal, and etc. Co-op directly with music creators, singers and their agents.
Machi X pivoted into a DAO, focusing on NFT art curation and helping bringing artists to crypto.
This is where learnt a lot about music industry and blockchain application.

Later i was discussing with my friend Jim who has been developer for decades, and a musician for his entire life time, so we thought we can do another music project, Melos. Jim is also the co-founder of Melos.

Melos is the brand new web3 ecosystem for music creation.

We, humans, are just highly emotionally attached to music.

We are builiding an ecosystem where people can enjoin music creation with more fairness, more value, and more fun. We are providing tools for poeple to collaberate in music creation, where each profit can be share in all creations.

And we are doing this through NFTs.

Luis Merino 🇪🇸 | Satoshi Club:
I think everyone does 😁

Yalu Lin:
Ya, we used music/tunes to express our emotions before we have languages.

Mary | Satoshi Club:
As I know even j can create music content on your platform! And that’s perfect! You inspire people 😃

Yalu Lin:
Thank you

Mary | Satoshi Club:
How big us your team? Who work with you?

Luis Merino 🇪🇸 | Satoshi Club:
Great background, Yalu. Thank you for the great intro.

Mary | Satoshi Club:
😃

Yalu Lin:
At this point, we are total of 12 people
mostly are devs. 4 in market and ops, 2 in product design

We are also collaborating with friends from time to time so we can operate more events

~tada~

Mary | Satoshi Club:
Pretty big team 😉

Yalu Lin:
Not bad, and still very busy.

Mary | Satoshi Club:
So, is your platform fully operational now?

Yalu Lin:
Not yet. the official launch is in September.

We are fine-tuning the some final touch, such as crypto and fiat payment etc.

Mary | Satoshi Club:
Gotcha! We will wait for this! And I am going to create Mary song there😂

Yalu Lin:
That will be awesome

Luis Merino 🇪🇸 | Satoshi Club:
👏👏

Mary | Satoshi Club:
Thank you for your intro!😃 Are you ready for the first part of our AMA with the questions from our community?🚀

Luis Merino 🇪🇸 | Satoshi Club:
We are near 😊

Yalu Lin:
Sure thing.

Luis Merino 🇪🇸 | Satoshi Club:
😂👏

Yalu Lin:
Let’s go!

Yalu Lin:
🔥

Q1 from Telegram user @orlemys
Melos.Studio has partnered with iconic American R&B artist Trey Songz for the platform’s first music NFT, set to release today 31st of August. Would you kindly tell us more about the specifics of this partnership? Is this a long-term partnership, do you have a set amount of NFTs you will release with him? Further, how is the production of the music NFTs done? Is it recorded by the artist as a regular song and then made into an NFT, or are there other exclusive steps to take? How will it be sold?

Yalu Lin:
Ohoh oh yeah, it is on sale RIGHT NOW
https://www.binance.com/en/nft/blindBox/detail?productId=127630597802689536

Trey Songz is the king of R&B. He is a singer, a songwriter, a record producer and an actor. He has won the best Male R&B Artist BET Awards and three times Grammy nominated. He has sold over 25 million records

This is brand new music we worked with Trey Songz, as to promote Melos.Studio’s vision of co-creation.
They are sold on Binance NFT as with Mystery Box

Luis Merino 🇪🇸 | Satoshi Club:
👀

Mary | Satoshi Club:
Yes, i actually love his songs😉

Yalu Lin:
within the purchases, there will be opportunity to have zoom calls with him and the once-in-a-lifetime music co-creation with Trey. What’s more, all the buyers can have the opportunity to share $100,000 cash awards and chance to get the genesis mining NFTs of Melos! and this is the very FIRST Music & Art Mystery Box on Binance NFT.

Mary | Satoshi Club:
Even zoom calls? That’s incredible!

Yalu Lin:
Exactly!

Luis Merino 🇪🇸 | Satoshi Club:
OMG! Lovely.

Mary | Satoshi Club:
You rock, guys🎸🎸🎸

Yalu Lin:
Rock and roll.

Mary | Satoshi Club:
So, Satoshiclubbers, pay attention to this event😉 you can get a lot of bonuses here!

Yalu Lin:
🎹🎧🎸

Mary | Satoshi Club:
Thank you for your answers! Ready to proceed?😃

Yalu Lin:
Yeah!

Q2 from Telegram user @Jonahapagu
Melos is planning to set up an incubator to assist the creation of music, formation of Virtual Band, and music studio. This is to support musicians and create more music festivals,… So how will this incubator work, what features do you plan to implement in this incubator, how will virtual bands be formed and operated in Melos and what kind of music studio do you plan to create…..

Yalu Lin:
Love this question and thank you for this.

Let me start by this….

Luis Merino 🇪🇸 | Satoshi Club:
Take your time 😉

Yalu Lin:
We took another look at NFTs and was thinking NFT shouldn’t be just a storage of medium. it really should be more, so we are using NFT as proof of creation, or proof of co-creation.

For example, musician Alice mints her piano tune as G0 NFT, Bob see this, buys it and then add his guitar to mint as G1 NFT, Fred buys and add his drum to mint as G2 NFT….
Whenever there is a sales made, this creator and creation info is reacorded in the DNA of our nfts. so the profits can be traced and shared to all of them.

Then we also have 1. a more fair profit sharing system 2. a create-to-earn ecosystem 3. interactive collectible 4. a new application of NFT and new relationships between artist, fans, and collaborators.

The ecosystem is going to be filled with music ideas, inspirations…

We are also providing tools so that you can create music online by yourself as a music newbie or if you are an music expert.

And you want to create music or with others in different timezone or different places. Virtualband is our next generation tool.

Mary | Satoshi Club:
What if Bob strongly disagrees with what Alice added and thinks his music was spoiled? Can he complain?

Yalu Lin:
Virtualband will alow users to make music jam as as easy as using google docs. You will also be able to discuss the music piece online like clubhouse, leave notes for others and more. it is going to be fun creating music on Melos.

Well, there is social chat room for them to discuss too.

Luis Merino 🇪🇸 | Satoshi Club:
This is crazy! I love it

Yalu Lin:
So with Melos, to enjoy music, we can do more than just listen. We can all participate in the music creation process and be rewarded

Luis Merino 🇪🇸 | Satoshi Club:
And if they don’t reach an agreement? 😄

Mary | Satoshi Club:
Awesome idea and i want to see your platform to go live 🚀

It’s a question 😜

Yalu Lin:
Well, if the NFT is sold, it is an item for others to work with
and Alice already made money on it 😄

Mary | Satoshi Club:
Gotcha 😂

Thank you for your answers! Ready to go to the next question?😃

Yalu Lin:
Yes yes.

Q3 from Telegram user @alice_wonderland12
Melos NFTs show who composited them and all the people that owned the NFT before. So if I buy an NFT of this type, there is no way I could erase my trace from the NFT history? What information about the previous owners is saved, and how can their privacy be preserved?

Luis Merino 🇪🇸 | Satoshi Club:
😄😄😄😄

Yalu Lin:
The work can stil be edited if not minted.

But once it is minted on blockchain, they are on public ledger.

Sure you can unlist the NFT from marketplace before it is sold. that may also be less visible to others.

Btw, we just broke Binance NFT record, 30,000 NFTs sold within 10 min.

Mary | Satoshi Club:
I see that it is a different kind of NFTs😃 it’s not about privacy, but it’s more about copyright 😃

Wow, congratulations! So, everything sold?

Yalu Lin:
We call them interactive collectible.

Not yet, the sales is still going strong.

Mary | Satoshi Club:
And it’s their beauty!

Yalu Lin:
We can still get them.

Mary | Satoshi Club:
Satoshiclubbers! Don’t be late🚀🚀🚀

Luis Merino 🇪🇸 | Satoshi Club:
👏👏👏👏👏👏

Yalu Lin:
🚀🚀🚀🚀

Mary | Satoshi Club:
Thank you for your answers! Ready to jump to the next question?🎉

Yalu Lin:
I am, thank you.

Q4 from Telegram user @victorogb
An the impressive tech of Melos ecosystem is a function called “More Salt to Music” operation. With this process, Melos plans to hide crypto cash inside MusicBlocks, in order for fans world over to be part of the promotion of MusicBlock NFTs. Without a doubt, this feature is awesome, as it builds a strong bond for music and it’s NFT collections. Can you carefully elaborate further, how will this feature be implemented, would fans be compelled to carryout specific mining operations for a share of these crypto cash, and how often will such operations take place? Also, since this operation has direct correlation with “NFT Forging” as offered on Melos, can you briefly talk on this?

Yalu Lin:
This is some easter eggs game we can play within our community.

This may be easier to explain with the format of our own marketplace blindbox.

The concept of our blindbox is that we can slice a song into pieces, publish them and allow the fan to play a collection game.

The winning colllector can then merge them back into the orginal song.

The winner can be provided with some rewards such as token, NFT or let this song be named under winners’ name.

Mary | Satoshi Club:
Haha😂 so if i want to have full song i need to collect several NFTs, right?

Luis Merino 🇪🇸 | Satoshi Club:
Like a puzzle

Mary | Satoshi Club:
Wow!

Yalu Lin:
Like a puzzle.

Luis Merino 🇪🇸 | Satoshi Club:
I want a song with my name 😅

Yalu Lin:
Just some new concept to play with music.

Mary | Satoshi Club:
Circles Luis😂

Luis Merino 🇪🇸 | Satoshi Club:
😎

Haha

Mary | Satoshi Club:
I love this concept and i am sure your community will be never bored👍

Mary | Satoshi Club:
Thank you for your answers! Ready to go to the next question?😃

Yalu Lin:
Rock it rock it.

Q5 from Telegram user @Asela1112
As I understood, MELOS STUDIO mainly focused on NFTs without a native token. What is the reason of being relied on NFTs without your own currency? Do you think, NFTs will be adequate for a massive exposure in Crypto Sphere? But Most NFT platforms use a native token to gain a mass adoption since the native tokens help to grow more trades within ecosystem. So don’t you have intentions to create a token like $MELOS instead of being depend on other currencies like BUSD?

Yalu Lin:
Well, yes, we are still working on our distribution of Melos DAO governance token. The final announcement about this will come out later.

Luis Merino 🇪🇸 | Satoshi Club:
😂😂😂

Yalu Lin:
So don’t be scammed if anybody offers you the token now.

We are offering NFTs first, on Binance NFT right now: https://www.binance.com/en/nft/blindBox/detail?productId=127630597802689536 ( 😄 )

And yes, you are also correct, our focus is to provide more open, more valuable and possibly more fairness approach to music creations, so we are trying to plan carefully on how the token can help.

Mary | Satoshi Club:
Do you plan any token sales?😃

Luis Merino 🇪🇸 | Satoshi Club:
It’s not that expensive… SatoshiClubbers, what are you waiting for?

Yalu Lin:
Planning

Yalu Lin:
Don’t wait, just go.

Luis Merino 🇪🇸 | Satoshi Club:
How are you going to distribute them?

Mary | Satoshi Club:
Oh, it’s a great hint!

Luis Merino 🇪🇸 | Satoshi Club:
👀

Yalu Lin:
🤣

Somebody posted this in our community.

Mary | Satoshi Club:
And only one 6th question left from thus part😃

Yalu Lin:
Well designed.

Gett a see that 3D animated Trey Songz dancing

Luis Merino 🇪🇸 | Satoshi Club:
Lovely 😂😄

Mary | Satoshi Club:
Yes, i love it!

Yalu Lin:
Trey Songz also quoted and rewteeted.. all legit

Luis Merino 🇪🇸 | Satoshi Club:
I am better dancing… For sure 😅

Mary | Satoshi Club:
Yes, I saw this! My likes are there😉

Yalu Lin:
Wow! thank you!

Mary | Satoshi Club:
And thank you for sharing all this with us! Ready to go to the next question?🚀

Yalu Lin:
Yes yes.

Q6 from Telegram User @ItsMelissa3
You mentioned that If we want to participate in the construction of Melos community, no matter what operational advantages we have, now we can apply for the Melos Angle. What is the Melos Angle? Where can we apply? How many spots are available? How will the participants be selected? When will the results be announced?

Luis Merino 🇪🇸 | Satoshi Club:
✅✅✅

Yalu Lin:
We do want help from more people and this is a going to be a DAO.

In our DAO governance, there are 3 major sections: Creation: any topics related to creation of NFT on Melos. Organization: helping with governance, tech developments. Expansion: help organizing events in telegram and discord channels, or helping promoting Melos to others. We want Melos Angels to help us develop on these sections.

and we will have there in our community when we launch our website officially in September. Stay Tuned!

But just stay active in Melos, help promote Melos and Melos NFTs.

Mary | Satoshi Club:
Where users can apply?

Yalu Lin:
Not yet.

But in telegram and discord

Luis Merino 🇪🇸 | Satoshi Club:
Please share links 🙂

Yalu Lin:
https://t.me/melosstudiodao

Discord: http://discord.gg/Wg7Quep8zW

Yalu Lin:
Come join.

Mary | Satoshi Club:
Satoshiclubbers! Let’s build together 👍

Yalu Lin:
Thank you.

And let’s build together.

Mary | Satoshi Club:
Thank you for this awesome first part!

Yalu Lin:
https://twitter.com/Ailien68/status/1432702498893144077?s=20

Oh!! there is already a tweet on this.

wow!

Luis Merino 🇪🇸 | Satoshi Club:
Thank you 🙂

Mary | Satoshi Club:
Really cool!!! 🤩

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Newton7Gm
What are the important social media links to follow the announcement of your projects?

Yalu Lin:
Twitter: https://twitter.com/melos_studio
Telegram: http://t.me/melosstudiodao
Discord: http://discord.gg/Wg7Quep8zW
Medium: https://melosstudio.medium.com/

please do follow them, and thank you

Q2 from Telegram user @yellowchamp
How do you consider non-musician in Melos Studio? Do you have any workshop and musician that can teach to non-musician that want to explore more in your platform?

Yalu Lin:
Yes, in Melos Workshop, there is a tool. an AI assistant that we call Metis. that can help you complete a song even if you insert only a few music notes.

This way, even music newbies can create music.

To be honest, i am not so much of a music creator as my co-founder Jim. I’ve learnt to play with music with Metis. it’s been fun and exciting.

Btw, Jim has been a musician his whole life and he is also a very senior developer also.

Q3 from Telegram user @Emidm28
Today (August 31th), the Melos’ first music NFT mystery box in association with singer Trey Songz will be released. Where can we buy that mystery box? Do we have to register in advance somewhere to be able to buy it? What will be the content of those mystery boxes?

Yalu Lin:
It is here on Binance NFT. just register as Binance user and you will be able to purchase. simple

https://www.binance.com/en/nft/blindBox/detail?productId=127630597802689536

Q4 from Telegram user @EmnKing
While the Melos community aims to promote usage and value of MusicBlock NFTs, the Melos DAO community members are responsible for autonomous community governance, such as proposals, organizing votes, and implementation; seek cooperation, continue to expand the community, and maintain fair trades of MusicBlock NFTs; and incentivize creator, collectors to continue to create, forge and trade MusicBlock NFTs. This is nice for members of the community. Is there any ranking to this membership? If there is a ranking, what are the needed criteria for one to ranked to a particular class? Is there a maximum vote for a member? If there is no maximum vote, how do you plan on controlling the voting power of users despite the autonomous system of Melos?

Yalu Lin:
Yes, there are going to be 5 different membership levels to participate in the DAO governance.

As mentioned earlier, there are 3 different sections for DAO voting, so the max voting weight and voting numbers are according the both the DAO topic sections and the different membership levels.

In our plan, Melos is a dao gov token for votes and a utility token for accessing functions on Melos platform.

Q5 from Telegram user @jazzmusic2000
Will the NFTs that are created in Melos.Studio only be available in your NFT marketplace? Or will their creators have the opportunity to market them on other platforms?

Yalu Lin:
Yes, in long term, we want to incubate musicians from our own platform and promote them to other platforms, to share our success.

This is music, should be promoted everywhere.

Q6 from Telegram user @shardy35
Where can I buy your tokens now, what are your current contracts address and how can I buy them and what are the benefits?

Yalu Lin:
Token not for sale yet… but the trey Songz NFT on Binance https://www.binance.com/en/nft/blindBox/detail?productId=127630597802689536

They can participate in NFT staking and mine Melos tokens later on

So go buy now.

And every

NFT in the binance NFT sales can be used in NFT staking.

EVERY one of them.

Q7 from Telegram user @Nayemshekh
Did you know that Corona Viruses( Covid-19) has had a huge impact on the crypto market? How can you maintain team performance during this pandemic?????

Yalu Lin:
This is actually one of inspiration for Melos, we still want to co-work with other musicians while we cannot travel during pandemic.

Musicians have held up this energy to build music and now it is time 🥁🔥

Q8 from Telegram user @iam12312
I see that for every Melos NFT Trading, some portion of the Transaction value will be given to Previous Creators,
Why is it so?
Is there other benefits for Creators on the platform?

Yalu Lin:
This is to share the co-creation energy with previous creator.

So we can form a new co-creation ecosystem.

Musicians work with musicians and support each other.

Creators can gain more direct and more open value on Melos platform.

And can also provide never-seen interactive collectibles to their fans.

Q9 from Telegram user @cenkkargin0666
Malicious users or artists can steal ideas or music that do not belong to them and upload them to your platform. How does Melos Studio go about preventing such playing or copying ideas? Do you pass any checks or audits of incoming content before it is published? What are you doing to publish original content?

Yalu Lin:
Yes, there are processes implemented to avoid this.

And there will be punishment for uploading/minting infringement contents.

Q10 from Telegram user @Pratze
I’m checking your staking program but its still not work for now, can you give an explanation? how will your stake system and what are the benefits stake in there?

Yalu Lin:
This feature is still under development and will be audited before launch.

You can stake and mine Melos token.

Part 3 – Quiz Results

In the final part, we tested your knowledge in terms of Melos.Studio. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru
Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/

Our partners
Melos.Studio Telegram community: https://t.me/melosstudiodao
Twitter: https://twitter.com/melos_studio
Website: https://melos.studio

PART 1. Introduction of CornDeFi Finance project and community questions.

Hello, Satoshi clubbers and guests of this site. Let’s talk today about the next-generation yield farm project.

CornDeFi Finance is a next-generation yield farm on Binance Smart ChainAnti Whale – Harvest Lockup – Vault Farms.

The plan of AMA session:

1. Part – Introduction and preselected questions.
2. Part – Live questions
3. The Quiz about CornDeFi Finance

The reward pool is 500$

Leading the AMA our clever and fun admins:

Luis Merino 🇪🇸 | Satoshi Club – @LuisMe7

Gold Rocket | Satoshi Club – @GoldRocket27

The Representative of the project:

GP^FIRE – Marketing Manager and Community Manager

Introduction of CornDeFi Finance project.

Luis merino 🇪🇸 | Satoshi club:

Hello everyone and welcome to another ama session in Satoshi club. Our guest today is @gpfire1 from corndefi. Welcome! This is your home 😉

Gold rocket | Satoshi club:

Hello, dear Satoshi club community! We are pleased to announce ama with corn defi. Hello and welcome to Satoshi club, @gpfire1!

Gp^fire🔥

Thank you

Gold rocket | Satoshi club:

How are you doing🌽

Gp^fire🔥

Great, it is a beautiful day today

Gold rocket | Satoshi club:

😉 nice to e-meet you

Gp^fire🔥

Same here

Gold rocket | Satoshi club:

Let’s start!

Introduce yourself, please. How did you get to be involved in crypto & corn defi!?

Luis merino 🇪🇸 | Satoshi club:

You were faster 😉

Gold rocket | Satoshi club:

🚀

Gp^fire🔥

Hello all, i’m gp fire, marketing manager and community manager for corn defi

Done

Gold rocket | Satoshi club:

What is the essence of corn defi?

Gp^fire🔥

Corndefi is latest generation yield farm and AMM decentralized exchange running on Binance smart chain with lots of unique and creative features.

Our inspiration comes from long-term harvest lock-in, but we have better ideas for traditional harvest lock-in modes.

Done

Luis merino 🇪🇸 | Satoshi club:

Thank you for the introduction

Gold rocket | Satoshi club:

How long does it take to develop a project? What plans do you have for the future? And what can we expect from corn defi?

Gp^fire🔥

If we successfully reach every step of our plan, then our team’s greatest expectation for the project is to be listed on mainstream exchanges and become a cross-chain project

Also, you can get the highest profit through our latest farming methods.

Done

Gold rocket | Satoshi club:

Tell us about the benefits of corn defi. How is it different from others?🌽

Gp^fire🔥

There are many projects in the long-term harvest locking mode. We use assets to generate income to achieve the functions of automatic corn destruction and automatic liquidity. Compared with other projects, we have canceled the transaction tax of corn, allowing users to trade corn without loss.

Our features also distinguish us from other projects such as:

Vault farms

Corndefi will use all lps to generate revenue. These proceeds will be used to stabilize currency prices and liquidity pools.

These benefits will be processed automatically by our team on a regular basis, and you do not need to pay additional gas.

Automated burning mechanism

40% of each proceeds will be used to buy back and burn corn.

Automatic liquidity

60% of the income obtained each time will be automatically added to the liquidity pool through the contract, and the lower price limit will be continuously increased. And the liquidity will be locked and inaccessible.

Anti whale

Transactions of more than 1% of the total supply will be rejected. As the total supply grows, this ratio will be reduced.

Harvest lockup

We use harvest lockup based on time. Harvest lockup is a unique rewards lockup mechanism used to limit the frequency of harvest. It is designed to prevent farming arbitrage bots from constantly harvesting and dumping.

Gold rocket | Satoshi club:

Also, we would like to know more about your team. Who is on the project team core?

Gp^fire🔥

Richard hunter, one of the founders of corndefi. He has more than 5 years of experience in the cryptocurrency field. Responsible for corndefi’s strategy formulation and marketing.

Mike henry, project marketing manager of corndefi.

Started to engage in internet operations in 2017, with 5 years of actual operation experience. Responsible for the marketing and operations of corndefi.

Done

Gold rocket | Satoshi club:

Does this mean that your team is not anonymous?

Luis merino 🇪🇸 | Satoshi club:

At least those two members no 😄👍

Gp^fire🔥

Team is anonymous but the two names can be researched about.

Done

Gold rocket | Satoshi club:

Thanks for great introduction, we will have several questions selected for the part 1. Ready to start?

Luis merino 🇪🇸 | Satoshi club:

Thank you. Let’s go!

Gp^fire🔥

I’m ready

Preselected questions about the CornDeFi Finance DeFi project.

Gold rocket | Satoshi club:

Q1 from telegram user @asela1112

Lps can provide liquidity using $bnb & get $corn tokens instead of that on pancakeswap. How long does it take to get our funds back, i mean what is the locking period of that pool? What is the minimum amount of $bnb that i should invest in to the pool? What kind of privileges, do you offer for lps? How about the security condition of this pool, is there anyone who can access the liquidity pool any time & withdraw all the funds without your permission?

Gp^fire🔥

You can withdraw your funds at any time, our harvest is locked in 6 days.

No minimum investment limit.

Our project has undergone long-term internal development testing and security audits to ensure the safety of the code logic on the chain. After a reasonable token model and a reasonable model design, it attracts more investors and keeps the project active for a long time. Try our best to protect the value of investors’ assets in the long term.

Done

Gold rocket | Satoshi club:

Sorry. Now will be a delicate moment.

Gp^fire🔥

Alright

Gold rocket | Satoshi club:

Today people came to our chat and said that they could not withdraw funds. If I give you their names, will you help me deal with the situation?

Luis merino 🇪🇸 | Satoshi club:

So, 6 days

Thank you for the clarification

Gold rocket | Satoshi club:

Or explain what they need to do

Gp^fire🔥

Yes of course

If you ask the person that complained, he never sent a dm and i believe the moderators banned him because he spam

Corn community is completely at peace as everyone is participating the farm, earning good profits with our amazing apr

Gp^fire🔥

After the AMA, they can send me a dm and i’ll gladly assist them. We value all of our investors and supporters😊

Gold rocket | Satoshi club:

I will send you all the information in the pm.😊

Do you have a customer support service where users can contact?

Gp^fire🔥

Yes, they can contact me. Thank you😊

Luis merino 🇪🇸 | Satoshi club:

That’s amazing 👏👏 Thank you for helping them

 

Gold rocket | Satoshi club:

Thanks for your answers

Luis merino 🇪🇸 | Satoshi club:

Nice. Do you want to add something? Or ready for the second question? 😄👍

Gp^fire🔥

Ready for second question😁

Gold rocket | Satoshi club:

Q2 from telegram user @yellowchamp

Corn defi has no pre-sale yet corn tokens can only be bought at pancakeswap v2. So,why does your platform decided to not conduct a presale? Having no presale,how did you manage to provide some liquidity and money for some expenses especially for listing purposes to some exchanges? Does your team just provided funds or do you have some third-party partnership that helps you provide funds for liquidity? Aside from Pancakeswap, which other CEX or dex exchanges we can expect for $corn token to be listed? Lastly,does your smart contract already audited since your token can already be buy in pancakeswap? Thank you

Luis merino 🇪🇸 | Satoshi club:

I love this question 😊

Gp^fire🔥

We have no pre-sale for fair launch.

Our project has passed a large amount of financing. The early income includes part of the recharge fee, and the later period will include the cost of the district centralized exchange, and the listing of mainstream exchanges in the future will bring us more returns. We firmly believe in this.

Our smart contract has been audited

Luis merino 🇪🇸 | Satoshi club:

Can you share that audit with us?

Gold rocket | Satoshi club:

Who audited you?

Gp^fire🔥

Audit report: https://corndefi.gitbook.io/corndefi-finance/security/audits

Luis merino 🇪🇸 | Satoshi club:

Thank you 😊

Gold rocket | Satoshi club:

Thanks for sharing! Safety first🙌

Luis merino 🇪🇸 | Satoshi club:

You are right 👏

Gold rocket | Satoshi club:

Ready for the next question or want to add something?

Gp^fire🔥

Yea thanks. Ready for the next question.

Gold rocket | Satoshi club:

Q3 from telegram user @andrey_seleznov

Hi corndefi!

Farming projects are often doing better when partnering with other projects and opening new pools for staking or earning tokens from other popular projects. Do you consider any partnerships at the moment? What projects would you want to invite to the corndefi platform for mutual benefit and to increase your user base and correspondingly tvl? And lastly, since you have a 4% deposit fee, is it even possible to integrate other tokens without such fees with corndefi smart contract or the other way around?

Thank you!

Gp^fire🔥

For partnership, we have reached out to several projects for the opening of new pools for staking

We are also in talks with coinsbit

For security reasons, we have not considered integrating other tokens without fees with corndefi smart contracts or other methods.

Done

Gold rocket | Satoshi club:

Thanks a lot for the answers! Share your roadmap with us please😊🌽

Luis merino | Satoshi club:

Coinsbit is huge, isn’t it? 😉

Gp^fire🔥

 Yea sure

https://corndefi.gitbook.io/corndefi-finance/roadmap

Thank you

Luis merino | Satoshi club:

Thank you! Ready for the next question? 🚀

Gold rocket | Satoshi club:

You have already done a lot and you have more work ahead🚀🌽

Gp^fire🔥

Yes

Gold rocket | Satoshi club:

Q4 from telegram user @victorogb

On careful study of your document and with particular reference to your roadmap, you plan to carry out some community and promotional events as well as enter into various partnerships. Noteworthy, is your planned lottery as well as twitter, youtube and ticktock contests, which are lined up to wrap up the launch stage of your project. Can you briefly describe how these activities would be organized, what are the possible dates and for how long would it run, and asides from these planned community events, what are other concerted marketing strategies to be employed and possible partnership considerations?

Gp^fire🔥

We don’t have specific dates for this but we are sure to carry out this marketing plan and the duration for each of these is one full month at a minimum.

Done

Luis merino | Satoshi club:

Can you please share links to your social media?

Gp^fire🔥

https://t.me/corndefi

https://corndefi.gitbook.io/corndefi-finance/community/social-and-contact

https://twitter.com/corndefi

Luis merino | Satoshi club:

Thanks 😊😊😊

Gold rocket | Satoshi club:

Ready for the next question 😉

Gp^fire🔥

Yes

Gold rocket | Satoshi club:

Q5 from telegram user @jonahapagu

Part of your long-term plans as signified on your road map is the addition of new products and a decentralized exchange (amm) so what new products does corndefi have in mind to introduce into its ecosystem, and how will the new products be implemented. How will corndefi’s proposed decentralized exchange work and what kinds of assets will users be able to trade on corndefi’s decentralized exchange..

Gp^fire🔥

For a mature platform, safety comes first. So when our other plans are implemented, we will continue to work with the security team to do more comprehensive audits. Amm decentralized exchange is what we must do. We must do our own exchange to facilitate transactions for each user. Stable currency prices are our higher pursuit. For this reason, we will open up more trading pools and cooperate with more exchanges. There are more interesting things in the plan.

Done

Gold rocket | Satoshi club:

Thank you very much for the answer. Please share your tokenomics with us🌽

Gp^fire🔥

https://corndefi.gitbook.io/corndefi-finance/tokenomics/corn-token-corn

Gold rocket | Satoshi club:

Why did you decide to make unlimited supply? This is a rather unusual solution.

Luis merino | Satoshi club:

Yes 👀

Maybe it is what makes it different from other projects

Gp^fire🔥

This is to realize the special setting of the project function

Gold rocket | Satoshi club:

Yes, that’s exactly how it became interesting to me😁thanks a lot for the answers.

Ready for the last question of this part?

Gp^fire🔥

Yes

Gold rocket | Satoshi club:

I think you will like this question😁

Q6 from telegram user @ajpaa

Deposit fee is 4% for non-corn farms/pools, deposit fee is 0% for native farms/pools. 75% of this fee will be used to buy back + burn corn to pump the price. Can you please tell us how the remaining 25% of this fee will be utilized, as I could not find details about it? Also when the proceeds from the vault was explained, it was mentioned that the gas fee is only 20% higher than that of a normal farm and that obtaining revenue is the place that spends the most gas, which will be handled by the development team. Please clarify which transaction has this 20% higher gas fee? Has the development team handled the revenue obtaining with most gas fee as you affirm?

Gp^fire🔥

The remaining 25% is project operating expenses.

For special reasons, the user’s stake gas fee is 20% higher

The proceeds of the vault will be used to repurchase and destroy corn and increase the liquidity of corn-bnb. This part of the operation is done by the development team, and the gas fee is also the highest.

Done

Luis merino | Satoshi club:

Thank you for the answer. I have no extra questions for this one 😄👍

Gold rocket | Satoshi club:

Thanks for your answers! Now get ready for the most impressive part of our ama! Live questions! 🚀

Luis merino | Satoshi club:

So… Part 2 is approaching

Gp^fire🔥

Alright

Luis merino | Satoshi club:

A huge storm of questions is almost here 👏

Gold rocket | Satoshi club:

@gpfire1 please do not forget to take care of the guys who have problems with the unstake😊

Gp^fire🔥

Yes sure

Luis merino | Satoshi club:

So… I will open the chat for 2 minutes. Please get your best questions ready…

Gp^fire🔥

Alright

PART 2.Questions about the CornDeFi Finance project from the live chat of the telegram community.

In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the CornDeFi Finance crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q – 1 from a telegram user @lm10980

Where can I buy your $CORN token now, what are your current contracts and how can I buy them and what are the benefits?

GP^FIRE🔥:

You can buy here and to earn more, farm or stake

https://pancakeswap.finance/swap?outputCurrency=0xba8aeAbca4f1C55973582a7f7D76d61A75e370fA

Q – 2 from a telegram user @cryptoflower13

Among the products you offer on your website is the Lottery, which will be launched soon. Could you give us more details on how this lottery will work? How will it magnify the income of the user? 

GP^FIRE🔥:

The Lottery function is being tested and perfected repeatedly on the test network. I will meet you in a while and I will definitely give you a different lottery.

Q – 3 from a telegram user @deleted

DELETED

GP^FIRE🔥:

These benefits will be processed automatically by our team on a regular basis, and you do not need to pay additional GAS.

Automated Burning Mechanism
40% of each proceeds will be used to buy back and burn CORN.

Automatic Liquidity
60% of the income obtained each time will be automatically added to the liquidity pool through the contract, and the lower price limit will be continuously increased. And the liquidity will be locked and inaccessible.

Anti Whale
Transactions more than 1% of total supply will be rejected. As the total supply grows, this ratio will be reduced.

Harvest Lockup
We use harvest lockup based on time. Harvest lockup is a unique rewards lockup mechanism used to limit the frequency of harvest. It is designed to prevent farming arbitrage bots from constantly harvesting and dumping.

Q – 4 from a telegram user @nguyenben

Corn Defi with Unique Rewards Lockup & BuyBack Mechanism, What Makes Rewards Lockup & BuyBack Mechanism Unique?

GP^FIRE🔥:

Our biggest difference is that all deposited assets on the farm will be managed by the vault. The proceeds from the vault will be used to BuyBack and Destroy CORN and increase the liquidity of CORN-BNB. In this way, the transfer tax is replaced, and the loss incurred when the user trades CORN is reduced. You will not notice these details when you deposit and withdraw, and the GAS fee is only 20% higher than that of a normal farm. Obtaining revenue is the place that spends the most GAS, which will be handled by the development team.
The development team will obtain income once a day, BuyBack and Destroy CORN, and add liquidity to CORN-BNB.

Q – 5 from a telegram user @captainprice111

How important is privacy and security for the CornDeFi project? How can users trust the CornDefi project? Have you had any third party AUDIT or report because smart contracts are prone to errors?

GP^FIRE🔥:

For a mature platform, safety comes first. So when our other plans are implemented, we will continue to work with the security team to do more comprehensive audits. AMM decentralized exchange is what we must do. We must do our own exchange to facilitate transactions for each user. Stable currency prices are our higher pursuit. For this reason, we will open up more trading pools and cooperate with more exchanges. There are more interesting things in the plan.

Q – 6 from a telegram user @Mercury654

For the success of any project its Marketing & Advertising Strategy should be solid? what are your plans regarding marketing and advertising for the project?

GP^FIRE🔥:

We are great marketing for this project
We did marketing with Livecoinwatch and bscscan

Currently, we are in talks to start marketing on coinsbit, Hotbit, and gate.io

Q – 7 from a telegram user @habibi_ve

In your announcements recently I saw that CornDefi is going to conduct an airdrop, could you give us a little more detail on how I can participate in it? What are the steps required for this? When will it take place?

GP^FIRE🔥:

Airdrop bot: https://t.me/CornDeFiAirdropBot
End Date: September 10th, 2021.
Distribution Date: September 15th, 2021.
NB: 4000 CORN for 4000 Winners (1 CORN/person)

Q – 8 from a telegram user @Sourava12

Is it possible that I can sell all $CORN after I have harvested and what are the important parameter to check while selling $CORN?

GP^FIRE🔥:

Yes you can sell

Q – 9 from a telegram user @messilolz

Corndefi is available in what exchanges to buy now??? what is the contract address to buy for new investors?

AGP^FIRE🔥:

It is available on pancakeswap

To buy, kindly use the link https://pancakeswap.finance/swap?outputCurrency=0xba8aeAbca4f1C55973582a7f7D76d61A75e370fA

Contract address: 0xba8aeAbca4f1C55973582a7f7D76d61A75e370fA

Q -10 from a telegram user @coinresearcher

We have seen nowadays many scam projects are built with Binance Smart Chain and I wonder why did you choose BSC for Corne?

GP^FIRE🔥:

CornDeFi is now running on the Binance Smart Chain. I like this chain for many reasons, including its maturity and stability and low transaction fees. Our ultimate goal is to make a cross-chain project.

Part 3 – Quiz about project

In the final part, we tested the knowledge in terms of the CornDeFi Finance project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.

Our contacts for more details: 

  English Telegram group  |  Russian Telegram group   |  Spanish Telegram group  |  Telegram Channel   |  Twitter |  Website 

Our Crypto Partner by this AMA: CornDeFi Finance

Telegram group  | Telegram announcments |  Tweeter  |  Website  

We are pleased to announce our next AMA on September 11th 2021 at 05:00 PM UTC Time: Satoshi Club x Hyper Meteor LTD

⚠️Click to see the hour
⚠️Total Reward pool: $500

⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Hyper Meteor LTD Telegram group

We will have the following structure:

Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.

Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Hyper Meteor LTD Team will select 10 questions and answer them.

Part 3: 300$ – A quiz about Hyper Meteor LTD

For more details:
Hyper Meteor LTD Telegram – @HyperUnity
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish

Welcome to another episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from Bybit, a cryptocurrency spot and derivatives exchange offering inverse, linear perpetual, quarterly futures contracts with up to 100x leverage. The AMA took place on August 30 and our guests were @ConorWithOneN and @nanadze (community managers).

The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.

---

PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Bybit! Welcome to Satoshi Club.

D. | Satoshi Club: today our guests – @ConorWithOneN and @nanadze! happy to have you here guys!

Conor: Thanks for having us!

Nazar: Hello everyone! We are happy to join you here today.

Mary | Satoshi Club: And we are happy to see you here today! So, let’s start our AMA. Could you please introduce yourself and tell us more about Bybit?

Nazar: Sure! Myself and Conor are community managers at Bybit Global (https://t.me/BybitEnglish)

Bybit is a crypto derivatives and spot exchange founded in 2018 which allows trading up to 100x leverage. We have built the most reliable crypto trading platform that is always online, even during significant price movements on the market. Crypto is never down, neither is Bybit. And >1.6 million traders trade with us globally!

Mary | Satoshi Club: Wow! It’s a huge number! Can you tell us how many new users come during 2021? It is always interesting to imagine the scale of what is happening during bull run.

Nazar: I cannot tell exact number for the platform but our community on Global telegram has almost +10k members this year.

Mary | Satoshi Club: Did this bull run changed something in Bybit strategy? In your goals?

Nazar: We have launched Spot exchange. Probably that is the biggest change.

The main focus we had and have is user experience. And we try to provide best services in the industry in trading, customer and community support.

Q1 from Telegram user   @Asela1112

BYBIT have no native currencies as I noticed. Most of Exchanges use native tokens with lot of usecases in order to protect their investors, users & give them more benefits. What is the reason for not adding a native token in to BYBIT platform? What are the benefits of being without a native currency? Won’t there be any reward for BYBIT users such as redistribution a portion of Transaction fee? So what are the benefits, you offer me for Using BYBIT exchange rather than the other Exchanges? Didn’t BYBIT community push you towards the idea of generating an own token yourself within BYBIT ecosystem?

Nazar: Yes, we do not have a Bybit token but we provide support to the crypto community and our traders in a different way and give back to those who trade with us.

1. Market Makers do not pay but earn (0.025% rebate) on every order with Limit Orders. That makes Bybit perfect for all kinds of traders, especially scalpers. In contrast to our competitors who charge fees for Market Maker and Takers orders. Here can be found more details.

 (https://go.bybit.com/e/iYHa7WShgib)

2. Bybit is committed to supporting decentralization and the crypto community in general. We have pledged to contribute 2.5bps of futures trading volume to BitDAO’s treasury. To read more and learn please check these links:

https://docs.bitdao.io/partners/bybit-pledge

https://blog.bybit.com/en-us/daily-bits/this-is-the-dao/

This is a bit different approach what other exchanges do and we believe this will bring a lot of value for the whole crypto community not only to token holders.

Mary | Satoshi Club: So, you don’t have native token or don’t have yet? Are there any plans in this direction?

Nazar: No plans for native token.

D. | Satoshi Club: that’s a bit unusual nowadays, every single exchange aims to make their own token.

Nazar: Yes, it’s different from what other do.

Q2 from Telegram user @Higher

You recently announced the commencement of The World Series of Trading (WSOT 2021). I learnt that WSOT is a trading exhibition where traders can partake by putting their trading dexterity into play with an opportunity to earn a share from the 7.5 Million USDT pool, NFTs and much more. Can you tell me how to win from these trading series? Is the event for your old users or can new users register and participate? What is the difference between the Troop and Solo competition, and can a user join both? What are the minimum equity requirements that users must meet and how will reward be shared?

Conor: Yes, this is the big one! WSOT is the largest competition that Bybit does every year. Traders put their skills to the test and as rewards there is the 7.5million USDT Prize Pool as you mentioned! We’re also giving away over 1,000 NFTs this year and they look great.

WSOT is open to all of our traders, old and new. There are some criteria to meet which I will explain in a moment. Entrants can participate in both the Solo Showdown and the Troop Throwdown, there is no need to only pick one. 🙂 The general idea is that the higher P&L (%) that traders get, the higher their rank will be and the bigger prize they can win.

So we have the Solo Showdown, this is like a single player competition. To enter, traders need a minimum of 300 USDT, (or 80 EOS or 500 XRP) upon registration. For this competition, participants can trade USDT perpetual, EOS inverse perpetual or XRP inverse perpetual. The prize pool for this section is 1,500,000 USDT.

Then there is the Troop Throwdown, where traders create a troop with their friends! Each Troop has a leader and must have at least 10 members, and the Troop with the best P&L % will be the victors. For this, BTC & ETH inverse contracts are traded, and the prize pool is a massive 6,000,000 USDT. You can learn all about WSOT here, and if you want you can register any time up until September 4th!

https://www.bybit.com/en-US/wsot2021/

Mary | Satoshi Club: Do participants have to be KYCed?

Conor: Nope, KYC is only necessary for those withdrawing over 2BTC daily.

D. | Satoshi Club: cool! Can you share with us what kind of NFTs you will reward winners? this is your own NFT or made with collaboration with some famous artists?

Conor:

NFTs follow the theme of WSOT, which are Dragons and Cities, and there are also special Winners’ Cups NFT which are unsurprisingly the rarest. Here are some of the NFTs you can collect!

The rewards calculations require a bit of reading, you can find them all on this page: https://www.bybit.com/en-US/wsot2021/

Q3 from Telegram user @Jmagsss

Recently, Binance had imposed a new rule about their KYC protocol and requirements. The crypto exchange now requires all its users, new or old, to comply with their KYC requirement in order to trade any asset in any form (spot, margin and futures) and to use its products and services. I have learned that Bybit only require a user to register a KYC if that user wishes to withdraw more than 2 BTC a day. Nonetheless, KYC in Bybit is optional. A lot of user/traders are against KYC’s because of trust issues and personal risks, so may I ask, will Bybit maintain its KYC rule for its users? In the future, will you also do what Binance have done, requiring all users to fully comply for a KYC registration? How would you convince your users that KYC is not a threat to their funds and personal information?

Nazar: We value the privacy of our traders and KYC is not necessary for traders who withdraw less than 2BTC daily. This KYC requirement was introduced recently with the spot exchange launch. There are no plans to change KYC rules in the future.

But we cannot promise that it will stay so forever as crypto moves fast and we have to act fast as well.

As for security and users’ private data, we take it very seriously and utilise best practices and tools in the industry to protect all the data associated with our traders.

Mary | Satoshi Club: Yes, we understand that no one can guarantee btw I have a question.

As I know from another exchanges if I lost my 2fa I can get my acc back only if I am fully KYCed there. What about Bybit?

Nazar: Yes, you can get your account back. We have dedicated help center article: https://help.bybit.com/hc/en-us/articles/900005776423-Losing-your-Bybit-Account-s-Google-Authenticator-GA-2FA

Q4 from Telegram user @DK177

When checking your spot markets, I noticed that you support only six trading pairs, four USDT pairs, BTC/USDT, ETH/USDT, XRP/USDT, EOS/USDT, and two BTC pairs, ETH/BTC, XRP/BTC. As I spot trader with a low risk appetite, I wonder why should I join BYBIT exchange! Why did you limit your spot markets to six pairs? Please let us know why you have included EOS which is at the 31st rank in the CoinMarketCap, neglecting coins with higher ranks. Are you going to expand spot markets in the future? What are the advantages that a SPOT trader get by choosing you over other exchanges?

Conor: So the spot market is a very recent addition to Bybit, and as such, it’s continuously being rolled out as we speak! While these pairs were the first ones that we listed, you can rest assured knowing that there’s plenty more in the pipeline! We have some really exciting listings coming up, and we believe that traders will be really happy with the upcoming pairs.

By choosing to trade spot on Bybit, you’re safe in the knowledge that your trades will always be executed. Bybit’s liquidity is top-notch and as crypto never stops, neither do we! The exchange can handle the weight of as many traders that are online at any given time. There’s no fear of it stalling even when price volatility is at its highest.

On top of that, the fees are great! We charge ZERO maker fee and only 0.10% taker fee for spot, so you can’t get much more competitive than that!

Here’s a comparison between Bybit’s spot fees and some other top exchanges.

D. | Satoshi Club: and as I see in stable assets you prefer USDT to USDC. why?

Conor: Of course, USDT is the most popular stablecoin so we want to give people what they want, of course we’re also willing to provide other options if there is enough interest.

D. | Satoshi Club: can your community vote for future listings on Bybit somehow?

Nazar: Yes, we did few polls before to check what coins our traders are interested the most. Probably we will continue with such practice.

Q5 from Telegram user @Jonahapagu

Bybit boasts of 99.99% System Functionality and availability even through volatile market periods which is very impressive. but I discovered that before now, Bybit has experienced about more than four disruptions on the platform. one in December 24 2019 due to abnormalities in your AWS Servers, another in March 12 2020 due to malfunction of one of your servers, on June 17 2020 there were abnormalities in your inverse perpetual trading platform due to strain in some of our Message Queue Clusters servers. and just this year, there were about two disruptions on Bybit, one on the 29th of April which was due to a decentralized denial of service (dDoS) attack on your platform which caused temporary service disruption. and the other on June 22 2021 due to temporary glitch with our CDN vendor… Did any of these disruptions cause any serious impact on your platform or the funds of users? and how does Bybit respond to this kind of issues to be able to maintain 99.9% system availability and functionality, what improvements do you have on your platform to hinder the reoccurrence of most of these disruption issues.

Nazar: Thank you for your question. Yes, you are correct we faced a few short-term disruptions and we take them very seriously. Most of them were caused by 3rd-parties who provide servers, hosts services, etc. Even though that these disruptions were not on Bybit’s end, we have fully compensated our traders who faced trading loss because of these disruptions. We treat every trade fairly at Bybit. Should price gyrations cause your position to be unfairly closed, Bybit will compensate you back to the fair market price. So, traders can rest assured that their funds and trades are safe with us.

Moreover, we communicate every single incident with our community publicly as we believe transparency can build real trust and confidence. You can scroll over our announcement channel and check all relevant reports we sent to our community https://t.me/Bybit_Announcement.

Mary | Satoshi Club: I am sure your community appreciate such communication!

Do you still work with that third party services or changed them?

Nazar: We reviewed them and make backups and other necessary changes.

Q6 from Telegram User @victorogb

Bybit currently offers Cloud mining and DeFi mining services on its platform with over 20 pools and options, with an attractive APY and SAPY to choose from. With specific emphasis on your Cloud Mining feature, can you properly elaborate on the benefits of this, how can investors participate, how is the Static Annualized Percentage Yield (SAPY) calculated for respective pools, and I noticed the high fees associated with the various mining pools, why is this so? Finally, there is also an option to offer Dual Asset Mining which is currently not available at the moment. Can you graciously elaborate on this, how soon should we expect this service to be functional?

Conor: Our ByFi Suite is all about providing alternative products that can create some other forms of passive income for our users.

As for Cloud Mining, it’s designed to provide some of the benefits of mining crypto without the need for purchasing hardware or running up gigantic electricity bills. Simply put, it’s the practice of utilizing a remote data center with shared computing power to mine crypto. Users can purchase hashing power from Bybit to mine crypto assets with no requirement of running their own hardware.

In terms of assessing the static output and static annualized percentage yield (Static APY), the static analysis method is used to calculate these figures. The static analysis method assumes that ETH’s spot price, block reward & mining difficulty remain unchanged in the future. Calculations are then made on the basis of this assumption.

The Hashrate Fee is calculated by like this: Hashrate purchased * Service Period * Hashrate Unit Price.

You can read about this is more detail here:

https://help.bybit.com/hc/en-us/articles/900007320363-Cloud-Mining-FAQ

Given the SAPYs such as this one (425.91%), I wouldn’t consider the fees as particularly high. That may depend on your own goals.

Mary | Satoshi Club: Thank you for your answers! Everything is clear for me!

Conor: As for the Dual Asset Mining, we can’t give away too much at this stage. There’ll be more details very soon.

---

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 120 seconds; a lot of questions were posted by Satoshi Club community. Our guests chose some of them.

Q1 from Telegram user @alberto_vzla

You mentioned that you guys are facing some short term outages and you take them very seriously. Most of them were caused by third parties providing servers, hosting services, etc…

How did you compensate for these damages to your merchants? did you lose a lot of money?

Nazar: We did not lose any funds. During these short term outages some traders were liquidated and were not able to adjust their positions. So, we compensated them. All funds were and are SAFU.

Q2 from Telegram user @coinresearcher

What is the uptime guarantee on Bybit? Binance is always down when there is a market crush on coins. Can you stay up better than Binance?

Nazar: You can register with us and check if Bybit is online when our competitors are offline. Just check yourself next time.

Q3 from Telegram user @surendra040

Does Bybit has local community supporting different language for different customers?

Conor: Yes, we have 13 local communities with fantastic ambassadors from all over the world. If you come to our Global Chat we can direct you to where you want to go: https://t.me/BybitEnglish

Actually at the moment we’re looking to expand our local communities and as such we’re looking for more ambassadors to join the awesome Ambassador Program. Specifically, we’re looking for Malaysian, Swedish, Italian and Thai ambassadors to shape those communities. If this sounds interesting you can apply here: http://bit.ly/3r3y4wf

Q4 from Telegram user @DK177

You have named your Telegram Group as “Bybit English”, but I could not find any local groups in addition to this official group. Does it mean that your project is limited to English speakers? Don’t you think non-English speakers will also be useful when building up a global community? Can’t we use your exchange if we are not from an English speaking country? Please explain the steps you have taken to expand the community.

Nazar: We have 13 local communities and looking to open more. You can check current local communities here https://t.me/BybitEnglish/426939

Q5 from Telegram user @highpee

Bybit will utilise a DUAL-PRICE mechanism that can protect users against POTENTIAL LIQUIDATION arising from uncontrollable drastic PRICE GYRATIONS or MANIPULATIONS. How will this system make use of a fair price instead of last traded price to trigger liquidation? How does this price system guide against any form of exploitation and unnecessary liquidation?

Conor: Hi Johnny, so our Dual Price Mechanism is there to prevent traders from falling victim to market manipulations so that the trading floor is as fair as possible for everyone!

The system consists of the mark price and last traded price. The last traded price is anchored to the spot price using the funding mechanism. This way the price on Bybit is unlikely to deviate significantly from the spot market price. You can read about this in more detail here: https://help.bybit.com/hc/en-us/articles/360039261074-What-is-Dual-Price-mechanism-

If there is a suspected manipulation, we will compensate any traders that lose out as a result!

Q6 from Telegram user @Gemshunter22

How easy is to use Bybit interface for a beginner and do you have any guide to use BYBIT? Also Can I do paper trading or not?

Conor: Bybit has a wonderfully intuitive user interface on both our desktop site and mobile app. It’s all laid out very nicely and easy to use, and looks very sleek as well.

You can certainly practice trading with us with zero risks. To do so, you can set up an account on https://testnet.bybit.com/en-US/  and ask our Live Support team for testnet tokens!

Q7 from Telegram user @Nensam

Can you tell us more about the ambassador/referral programs in Bybit? Do you have any currently and where can we join them?

Nazar: Can you tell us more about the ambassador/referral programs in Bybit? Do you have any currently and where can we join them?

Q8 from Telegram user @Nonerlike

How good is your live support and do you value customer’s feedback? one of the problem in exchange like Binance is no good support and late replies.

Conor: Absolutely, our Live Support is available 24/7. You can also reach out via email at support@bybit.com  and you can always reach us on Telegram (https://t.me/BybitEnglish .  

As for feedback we’re always listening so we can improve our services. If you ever have any feedback for us, share it and we’ll make sure it reaches the right ears.

Q9 from Telegram user @nadee5

There are so many crypto newbies. Specially this time period.

How do you motivate such crypto newbies to join with Bybit? do you have any educational tutorials to learn how to use Bybit?  

Nazar: We have quite a few incentives for newbies where they can earn and learn:

1. You can claim bonuses and coupon at The Rewards Hub (https://www.bybit.com/en-US/task-center/rewards_hub/)  for completing simple tasks

2. We have daily chat activities (https://t.me/BybitEnglish/404273)  where everyone can participate and be rewarded

3. We have announced WSOT trading competition with quite a few campaigns participating in which traders can earn rewards as well. Check here (https://t.me/Bybit_Announcements/461)   here (https://t.me/BybitEnglish/407732)  and here (https://t.me/BybitEnglish/407003)

 (https://t.me/BybitEnglish/407003)4. Please check Referral campaign (https://t.me/BybitEnglish/359140)  where you by referring friends can get trading bonuses as well.

Q10 from Telegram user @csgonub

I see there is a really huge competition on Bybit I wonder how can I able to join your competition?

Conor: Yes, you’re referring to our WSOT competition!

The registration runs until September 4th so you can still join until then! It’s simple to join, you just need to register on Bybit, visit https://www.bybit.com/en-US/wsot2021/ and follow the instructions.

---

PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about BYBIT. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 300$ were distributed between the winners.

For more information and future AMAs, join our Social Media channels:

• English Telegram group: https://t.me/Satoshi_club
• Russian Telegram group: https://t.me/satoshi_club_ru
• Spanish Telegram group: https://t.me/satoshi_club_spanish
• Telegram Channel: https://t.me/satoshi_club_channel
• Website: https://esatoshi.club/
• Twitter: https://twitter.com/esatoshiclub 

Our Partners:

• Website: https://bybit.com
• Telegram: https://t.me/BybitEnglish
• Ann: https://t.me/Bybit_Announcements
• Help Center: https://help.bybit.com